USDZAR

At this stage the US dollar strength is over powering the South African Rand, however as we approach the monthly resistance zone as well as fill the previous high wick, its best to sit on the sidelines and wait for a reaction at the resistance area, any bearish signal that is presented, we will apply our entry strategies should we receive the relevant data for entry, otherwise should price break back into the channel signaling further bullish strength for the dollar to create new highs for this pair, we can wait for price to find support from previous high resistance, to continue the bullish move..

For more details on how we use candles for support and resistance, check out this free youtube content - Forex Basics 1.0:

youtu.be/7Ai4Fm5VF9s